Posted on Tuesday, 28th April 2009 by admin
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My friend is considering about purchasing a storage business. What are the pros and cons of owning a storage business? Any advice?
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My friend is considering about purchasing a storage business. What are the pros and cons of owning a storage business? Any advice?
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Tags: Business Advice, Pros And Cons, Purchasing
Posted in Small Business | Comments (3)
May 1st, 2009 at 9:56 am
make sure you have a good accountant, sponsor a little league baseball team, and spray for bugs.
May 3rd, 2009 at 9:02 pm
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Pros:
very little labor costs
excellent tax benefits
very few disgruntled customers
steady monthly cash flow
Cons:
High initial cost
very little barrier to entry (other businesses can relatively easily open up and compete against you)
All in all, the pros outweigh the cons. This is not a bad investment if you can buy it for a reasonable price.
May 4th, 2009 at 1:50 am
Dolphin Hosting
Yes, rat/mice will be a problem as well as cockroaches. Especially as you don’t know what people will be storing that may attract them.
Check up on how to vacate an area where someone has fallen 2 months behind in payments (most do auctions of the stored stuff that’s unclaimed and unpaid for) – it varies per state.
Have a good all purpose janitor/jack of all trades, to fix roofing, door slides, windows, fencing, etc. Also a locksmith on call.